What is the Member Share Account, and why do I need it with my Business Savings Account?

All Business Account members need to know about their new Member Share Account

On August 1, 2023, we are establishing a separate Member Share Account for each Floridacentral member to hold the $5.00 share that establishes and maintains your membership in Floridacentral.

What's a Membership Share?

A membership share establishes your membership with Floridacentral and allows you to access the products, services, and benefits our credit union offers. You are required to maintain this $5 in your account. The share is the $5.00 you deposit when opening your accounts at Floridacentral

What do I need to do to open the Member Share Account?

Nothing. You already have the $5.00 for your membership share in your savings account. On August 1, 2023, your Member Share Account will be opened, and the $5.00 membership share will be automatically transferred. The remaining balance will stay in your Business Savings Account.

Will I see the new Member Share Account with my other accounts?

Yes. Your Member Share Account will show on your statements and Online Banking.

Will I be able to do transactions with the new Member Share Account?

No. This account will be used solely for your $5.00 membership share. No transactions will take place in this account.

Will the addition of the Member Share Account affect how I conduct transactions in my business account?

No. Your account number will stay the same and nothing will change with your direct deposits, automatic debits, debit card, or checks.

Can I choose not to have a Member Share Account?

No. Floridacentral will require all members to have a Member Share Account as of August 1, 2023.